Aave’s decentralized autonomous organization is launching the GHO stablecoin on the Arbitrum blockchain as part of itsCross-chain expansion strategy.”
“teaMulti-collateral stablecoins built into the Aave protocol will leverage industry standards. Chainlink Cross Chain Interoperability Protocol (CCIP) “We will roll out gradually, starting with Arbitrum as our first network and expanding to other networks over time,” the statement reads.
The GHO stablecoin, native to the Aave protocol, is fully backed and transparent by the Aave DAO, which manages the token supply. Assets available within the Aave protocol can also be used to back GHO.
Almost a year ago, ghost We have activated a stablecoin on the Ethereum mainnet. This move follows the launch of the GHO stablecoin on the Goerli testnet in February 2023.
Aave’s focus with Arbitrum and its subsequent expansion of the network is to lower transaction costs while increasing accessibility and adoption.
“Integrating with other networks will result in lower fees, faster transactions, and improved liquidity, making GHO more attractive to users and opening up a range of new use cases, including GHO digital payments,” Aave Labs founder and CEO Stani Kulechov said in a statement.
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